President Obama is expected to nominate UC Berkeley professor emeritus Janet Yellen as the new head of the Federal Reserve on Wednesday. If the Senate approves her nomination, Yellen will succeed Ben Bernanke when his term expires at the end of January. We discuss Yellen's background and what her possible appointment would mean for the Fed and the economy.
Janet Yellen Appointed to Head the Federal Reserve
Laura D'Andrea Tyson, professor at the Haas School of Business, UC Berkeley; and former chair of President Bill Clinton's Council of Economic Advisers
Peter Coy, economics editor, Bloomberg Businessweek